Connect with us

Business

What is Hon Hai? How Does it Relate to Foxconn?

Published

on

Hon Hai’s vision since its inception has been to provide technological products and solutions that bring convenience to people’s everyday lives. It also focuses on fields of nanotechnology, heat transfer, wireless connectivity, material sciences, and green manufacturing. Hon Hai noted that as of 2013, it had accumulated over 55,000 patents worldwide.

 

Hon Hai has been listed on Fortune Global 500 list for 13 years and was most recently ranked 27th  overall at the end of 2016.  It is listed as the world’s fourth largest technology company behind Apple,   Samsung Electronics, and Amazon.com. Hon Hai currently carries an A- rating for long-term and a stable outlook from Standard & Poor’s, which is better than other major Japanese tech companies such as Sony (rated Baa3), SoftBank (Ba1), and Toshiba (CCC-). Its Taiwan Ratings (Standard & Poor’s subsidiary in Taiwan) lists a twAA+ for long term and twA-+1 for Short-term and a stable outlook.

Hon Hai went public in 1991 when it was first listed on the Taiwan Stock Exchange (TSE). The company then became listed on the London Stock Exchange in 1999. With approximately $135 billion in annual revenues, Hon Hai has a current market capitalization approaching $60 billion. In comparison, Ford Motor Company has market capitalization of $49 billion, Tesla $60 billion and Netflix Inc. $85 billion. The stock has a 52-week trading range of between $2.60 and $4.05, with a current price of $3.55 per share on the TSE.  Hon Hai’s Chairman and CEO, Mr. Terry Gou, is the single largest shareholder (as reported in April of 2017, owning 9.36% of the outstanding shares.

 

Within Hon Hai’s audited financial statements, it lists 20 wholly owned subsidiaries. According to an Orbis report dated July 18, 2017, Hon Hai has 199 total subsidiaries including the 20 wholly owned companies referred to in the audited financial statements.

Hon Hai is the original company formed by CEO Gou in Taiwan and is listed as a parent company in the protocol chart offered in the formation of the Foxconn Wisconsin project.

hon hai parent company of foxconn in wisconsin